SOURCE: MediaNet Group Technologies, Inc.

January 07, 2008 09:38 ET

MediaNet Group Announces Record Web Mall Purchasing Volume for Fourth Quarter and Full Year 2007

MARGATE, FL--(Marketwire - January 7, 2008) - MediaNet Group Technologies, Inc. (OTCBB: MEDG), a leading developer of private branded web malls and online affinity programs through its BSP Rewards subsidiary, announced today the achievement of record transaction volume through its online web malls for the fourth quarter and full year 2007.

The aggregate dollar amount of merchandise and other goods and services purchased by consumers through their private branded BSP Rewards web malls increased by 39% to a record $7.1 million for the full year of 2007, as compared to $5.1 million for 2006. Transaction volume in the fourth quarter of 2007 increased by 27% to a record $1.8 million from $1.4 million in the same period of 2006.

"We are very pleased to report record levels of growth in one of the most important measurements of our business," said Martin Berns, Chief Executive Officer of MediaNet Group Technologies. "As the leading online web mall developer with over 725 well-known retailers and other merchants participating in our programs, we are not surprised by the increased levels of purchasing from all of our Internet shopping sites. In fact, we believe we are at the very early stages of our growth trajectory as we are continuously adding additional web malls and their respective members. Online shopping continues to take market share from the overall retail market. Similar to the seasonality of traditional retailers, we experience a significant increase in transactions in the fourth quarter, but our reporting process books much of this volume in the following quarter. Therefore, we believe the first quarter of 2008 will be the strongest quarter in MediaNet's history.

"MediaNet is a relatively young company with an impressive track record of growth realized by the execution of a sound business model. Simply put, the value proposition for consumers shopping through our web malls in unparalleled, with our cash value points added on top of affinity points, credit card benefits and other discounts offered to our shoppers for the same purchases that might otherwise be made online or in stores. The shopping experience is the same on our web sites as it would be directly from the retailer or 'etailer' sites, but the cash value points accumulated from all of our merchants, as a common currency, are driving consumers to make purchases through BSP Reward's private branded web malls."

About MediaNet Group Technologies, Inc.:

MediaNet Group Technologies, Inc. (OTCBB: MEDG) encompasses an integrated group of operating divisions that revolve around the many aspects of technology, including branded rewards programs, web mall programs, and online media intellectual properties. Additional information on MediaNet Group Technologies can be found on the Internet at

MediaNet Group Technologies has developed unique proprietary platforms, software and solutions for every size business. The Company offers extremely affordable, simple, immediate implementation, delivered as feature rich turnkey rewards and loyalty enterprise solutions for corporations interested in expanding their web presence and enhancing customer relations -- turning operational costs into profit centers.

BSP Rewards, Inc., a wholly owned subsidiary of MediaNet Group Technologies, builds, brands, customizes and administers proprietary loyalty/rewards/mall program for each client and organization and is also a value added element layered onto debit and stored value cards. Members receive up to 15% in rewards and up to 60% in discounts when purchasing merchandise and other products from the nation's best retailers through the BSP network. Strategic relationships entered into as part of the Company's branded web mall concept includes leading retailers such as Macy's, Target, Starbucks, Blockbuster, Old Navy, Target, CompUSA, Budget Rent-a-Car and over 700 other merchants. With over 50 web malls already developed and in use, BSP Rewards currently serves nearly 1 million registered users. A typical BSP Rewards Mall may be seen at and details about the program can be viewed at

"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. MediaNet Group Technologies, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.

Contact Information